THE local gaming industry’s gross gaming revenues (GGR) expanded by 37.52 percent in the third quarter of the year due to the strong performance of the electronic gaming (e-gaming) sector, the Philippine Amusement and Gaming Corp. (Pagcor) said Thursday.
In a statement, Pagcor said GGR grew to P94.61 billion from the P68.79 billion a year ago.
E-gaming increased 464 percent, generating P35.71 billion in revenues from last year’s P6.32 billion.
“This impressive performance is a strong indication that the use of modern technology and mobile gadgets in gaming and amusement will continue to play a pivotal role in shaping the future of gaming,” said Alejandro Tengco, Pagcor chairman and chief executive officer.
Tengco said Pagcor expects e-gaming to generate as much as P78 billion in license fees alone by yearend, substantially contributing to the realization of the gaming regulator’s P100-billion revenue target for 2024.
The licensed casinos, which remained the biggest contributor to the third quarter GGR, brought in P50.72 billion despite a 2.27- percent decline in revenue performance compared to last year’s P51.9 billion.
Casino Filipino gaming venues operated by Pagcor brought in P3.64 billion, 26.32 percent lower than the 2023 record of P4.94 billion.
Bingo operations contributed P4.52 billion to the GGR, also 19.43 percent lower than the 2023 third quarter revenue of P5.61 billion.
